"Renewables markets have moved, but governments' ambitions have not," Katye Altieri, electricity transition analyst at energy think tank Ember, said in a press release published alongside the new report.
Ember assessed 96 countries and the EU that together represent 95 percent of global electricity demand. It found that only eight countries - all within the European Union - had actually updated their national renewable energy targets over the past year.
The good news is that industry forecasts look brighter than what's reflected in national policies, and renewables can grow, even with lawmakers dragging their feet on climate action.
Solar and wind are already more affordable power sources than fossil fuels in most of the world, with solar deployment on track to see a 29 percent increase in installations this year.
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